Mixed Emotions on Defender Market - Defender Source
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  #1  
Old January 31st, 2012, 02:40 PM
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Mixed Emotions on Defender Market

Well, today there was an auction for a 1995 D90 SW #267, in Wayne NJ.

The odometer indicated 48,652 miles, but the d90 showed more like 100k+...in the NE. Typical rust issues: rear cross member, bulkhead, cappings. Collision damage to both front side wing pannels as well as a fold in the tub behind the driver side rear tire. Interior looks like it could have used new carpeting all around and headliner.

I checked out the car fax and it was clean with the exception of the accident damage.

So, should I be disappointed or thrilled that it was bid up by three bidders to a final sale of $30,250?....

I look at this a few ways (1) happy to know that the value of my defender continues to appreciate with time, (2) very sad that I lost what I thought was a great lead on a hidden gem to start a new build, and (3) aggravated that the value of a good project truck is ever more difficult to find and will likely cost much more than I originally anticipated.

Whatever the case, I guess I should find solace in the fact that my wife continues to support my addiction!

Pics on this website: www.ajwillnerauctions.com

But i will post pics of problem areas shortly.
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  #2  
Old January 31st, 2012, 02:50 PM
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Yeah, but with AC, low miles, etc. that's about market for that I guess. There was a project NAS rig sold last week for $6,500 nice and local to us in CT - but it had a salvage title.

It's a little easier to find using this link:

http://www.ajwillnerauctions.com/ind...D=651&ItemID=3

VIN SALDV3286SA978340
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I am talking purely from an aesthetics standpoint.
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  #3  
Old January 31st, 2012, 02:50 PM
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thrilled ... my D90 is a better investment than my 401K
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Soapy water / KY jelly, etc. is is basically a must. Yes, good idea to remove trim panels - only takes 5 more minutes to do so.
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  #4  
Old January 31st, 2012, 03:06 PM
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I don't agree that it's about market...but I guess the auction proves me wrong.
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  #5  
Old January 31st, 2012, 03:14 PM
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What were you thinking a 1995 truck with AC, under 50k miles, needing a rear crossmember would go for then?
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  #6  
Old January 31st, 2012, 03:22 PM
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AC?... I can get a brand new model AC unit for $1,500. Not sure where you're going with this...
Low milage?... I have seen D90 over 150k miles that looked 1/2 the age of this truck...

Josh...I guess you needed to see this in person...

IMO, this truck needs a complete frame up restoration...I believe fair market value for this was $15k.
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  #7  
Old January 31st, 2012, 03:26 PM
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looks like a $15K to me as well ... although it is the highly desirable white 95 SW... great ... that means there are at least 2 other buyers out there who have no idea the value!
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Soapy water / KY jelly, etc. is is basically a must. Yes, good idea to remove trim panels - only takes 5 more minutes to do so.
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  #8  
Old January 31st, 2012, 03:43 PM
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Quote:
Originally Posted by Chris Vitale View Post
AC?... I can get a brand new model AC unit for $1,500. Not sure where you're going with this...
Low milage?... I have seen D90 over 150k miles that looked 1/2 the age of this truck...
What I'm getting at is most novices buying these things do not see rust. They see "hey, black rear crossmember - someone said to make sure it had that; A/C - nice I won't be hot in the summer; low miles - I want that!; stick - I can change that to auto real quick; nice black interior." Your typical buyer doesn't know that new A/C's go for $1,500 and even if they did they wouldn't want to deal with having one installed. Hell, plenty of people steer clear of a soft top truck because it doesn't have a rear bench that comes with it!

But to us, who know the trucks, we see RUST and lots of it. We see lots of things that need replaced, and we subtract money for each thing we know needs replaced to be able to not lose our pants when/if we go to sell it. Sure, to you it's $15k - to a regular dude who doesn't know them, he sees the list of things I listed - low miles, AC, etc. and bids it up to near/less than what he's seen others go for in that range.
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  #9  
Old January 31st, 2012, 03:46 PM
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Quote:
Originally Posted by leastonce View Post
looks like a $15K to me as well ... although it is the highly desirable white 95 SW... great ... that means there are at least 2 other buyers out there who have no idea the value!
Maybe the buyer was colorblind and thought it was Conniston Green with a white top!
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  #10  
Old January 31st, 2012, 03:48 PM
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I know, I was dumbfounded as I stood there and whitnessed the bidding.

BTW - more than two buyers...I believe the guy who had the winning bid was a dealer looking to flip it!
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  #11  
Old January 31st, 2012, 05:04 PM
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probably thought it was a 110 ...
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Soapy water / KY jelly, etc. is is basically a must. Yes, good idea to remove trim panels - only takes 5 more minutes to do so.
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  #12  
Old January 31st, 2012, 05:18 PM
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It is amazing for sure- that truck would have gone for $12-15k two years ago. I agree with Chris- it is absolutely crazy!! The irony is the cost to rebuild correctly is outrageous as most parts are NLA- that is when their education really starts!!
Also, the $6500 truck had not only a salvage title, but requires a NY inspection to get it cleared. We tried to buy that truck a while back, and the headaches the DMV outlined were cost prohibitive. It was well bought, but only for the parts- the title is more trouble than the truck will be worth- current example included.
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  #13  
Old January 31st, 2012, 06:30 PM
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$30k for that is insane. Especially for a dealer. But I have noticed that the NAS 90's for sale seem to have prices a fair bit more than a couple years ago like Dale mentioned. Maybe for the buyer group, the economy is doing better? Maybe there have been enough snotty UK 90's and 110's brought in that the NAS rigs seem like a bargain? IDK, but I like seeing the higher NAS prices myself.

Everytime I make a modification to my truck for the most part I can bring it back to stock if needed. If and when the NAS 90's get to a selling point, I might pull a trigger and build my own import. Pull off the items I want like the Toy axle, wheels & tires, Rockware and Warn, spring & shocks.

But Chris - you should be stoked on that. If that thing went for $30k - I can only imagine what your rig would be worth!
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  #14  
Old January 31st, 2012, 06:58 PM
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Money laundering?

MI:4 - Ghost Protocol?

Rich people money isn't like you and me money.
I don't think it was a mother and father both working with three kids making 80,000 a year combined that bought the truck.

These people live in a different world. They'll probably give it to their mechanic buddy and say, "fix it for me." I hope all of you get at least that much for your trucks.
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  #15  
Old January 31st, 2012, 07:47 PM
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Well, hopefully this is an isolated situation... but if it's not, it's only a matter of time before these machines end up as dust collectors in a trophy case.

Shoot...our gatherings will go from off-roading followed by beer and sharing war story around a camp fire to... Fall foliage drives in the country followed by wine & cheese picnics and sharing top it competitions to see who is more important or wealthy.
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  #16  
Old January 31st, 2012, 08:07 PM
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Quote:
Originally Posted by Chris Vitale View Post
So, should I be disappointed or thrilled that it was bid up by three bidders to a final sale of $30,250?....

I look at this a few ways (1) happy to know that the value of my defender continues to appreciate with time, (2) very sad that I lost what I thought was a great lead on a hidden gem to start a new build, and (3) aggravated that the value of a good project truck is ever more difficult to find and will likely cost much more than I originally anticipated.
Cheer up, it could be worse.

Just think if we had a national debt of $15 trillion to contend with.
Oh wait: www.usdebtclock.org
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  #17  
Old January 31st, 2012, 11:03 PM
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Ken Jagolta
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So, where can I get a brand new NAS A/C system for $1500? Sign me up, I need one.

Btw, Shayne's recent purchase has a salvage certificate, not a salvage title....not sure of the difference, but that is what it has.
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  #18  
Old February 1st, 2012, 09:27 PM
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shayne young
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AND...it went for a good deal less than the asking price...nahnee nahhh....
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  #19  
Old October 8th, 2012, 05:42 AM
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This one has popped up again
http://www.defendersource.com/forum/...312#post379312
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